Aik Meng News

NOL Group announced the resignation of Eng Aik Meng as President of its APL shipping business. The container transportation and logistics group has named Kenneth Glenn, currently President of its North Asia Region, as his replacement. NOL said Mr. Eng will leave the company September 1, 2011, to take a new position outside the transportation industry. "We understand Aik Meng's desire to begin a new phase in his career, and we thank him for his contributions to NOL," said Group CEO Ronald D. Widdows. Mr.

APL said today that 29-year veteran Bob Sappio, head of the shipping line’s PanAmerican Trades, will leave the company August 1 to remain in the San Francisco Bay Area. Sappio has been the head of APL’s Trans-Pacific Trade since 2003. He played a key role in establishing APL as the leader in the Trans-Pacific and in building its brand reputation for high-quality service in the industry, said Ron Widdows, CEO of parent company NOL Group. “I’ve devoted my entire career to APL – a company I have tremendous affection and respect for,” said Sappio, who joined the container carrier in 1982. Sappio guided APL to a top market share position in the route between Asia and the U.S. West Coast.

NOL Group, the Singapore-based container shipping and logistics company, today reported a first quarter 2011 net loss of US$10 million compared to a net loss of US$98 million in the same period last year. NOL said first quarter 2011 revenue was US$2.4 billion, up 16% from a year ago. First quarter Core EBIT (Earnings Before Interest and Taxes) was US$13 million, compared to a Core EBIT loss of US$74 million in the same period last year. “In spite of year-over-year volume growth…

Japan is waging a public relations war as it struggles to control the nuclear contamination threat at home while playing down the concerns of consumers abroad. Fears of tainted goods from the battered nation are affecting trade flows, with regional weather distributing radiation particles and hysteria across Asia. In South Korea, panic over radioactive rain in March saw schools shut down en masse, despite the minute level of radiation posing no known health risks. In Hong Kong in April…

SINGAPORE: 12 APRIL, 2011 - NOL Group today announced a maritime milestone: its vessels will become the first to use cleaner-burning, low-sulphur gas oil in Singapore. The decision is expected to curb sulphur oxides emissions from ships by almost 90%. Sulphur oxides are considered a key component of acid rain. Ash and particulate matter emissions could be reduced by 80% to 90%. "We are proud to be the first container shipping line to convert to cleaner-burning fuel here," said Eng Aik Meng, President of APL, the NOL Group's shipping line.

COLOMBO, SRI LANKA, 5 APRIL, 2011: APL has agreed with Sri Lanka Port Authority’s Mahapola Training Institute to train 20 new seafarers from the Institute annually onboard its ships. The agreement was signed today by APL President Eng Aik Meng, the Sri Lanka Ports Authority and the Directorate General for Merchant Shipping. “This initiative demonstrates APL’s commitment to the Sri Lankan maritime community,” said APL President, Eng Aik Meng. The agreement also extends to collaboration between APL and the Institute in areas of maritime education…

NOL Group today reported net profit of US$461 million for 2010, representing a US$1.2 billion turnaround from its US$741 million loss in 2009. The container shipping and logistics company said that group revenue reached an all-time high of US$9.4 billion, up 45% from last year. NOL’s fourth quarter net earnings were US$177 million. That compared to a US$211 million loss in the same period a year ago. NOL reported 2010 Core EBIT (Earnings Before Interest and Taxes) of US$557 million, compared to a Core EBIT loss of US$651 million in 2009. Core EBIT in the fourth quarter was US$198 million. “Strong demand from shippers and rate increases in our major trade lanes helped drive the turnaround,” said NOL Group CEO Ronald D. Widdows.

The New World Alliance said it will temporarily reduce capacity on selected Trans-Pacific Trade services to coincide with Lunar New Year factory shutdowns in Asia. The three container shipping lines in the alliance -- APL, Hyundai Merchant Marine (HMM) and Mitsui O.S.K. Lines (MOL) said the winter deployment program is expected to last six weeks; more if necessary. "We'll review demand and capacity again well in advance of the peak shipping season," said APL President Eng Aik Meng. Winter deployment programs are routine for The New World Alliance carriers and the Trans-Pacific Trade in general, where Asian exports slow significantly during the Lunar New Year holiday break. Factory closures sharply curb the production of finished goods which are a staple of the trade.

CNOOC Limited announced that its two new oil fields, BoZhong (BZ) 26-3 and LuDa (LD) 32-2 in the Bohai Bay have successfully commenced production recently. BZ 26-3 is located in the central part of Bohai Bay, neighboring producing field BZ 25-1S. The field has an average water depth of about 25 meters. The development and production operations of BZ 26-3 mainly rely on the facilities of its surrounding oilfields. With 4 wells online currently, BZ 26-3 is expected to hit its peak production of more than 6,600 barrels per day in 2011. LD 32-2 is located in the Eastern Bohai Bay with water depth of about 25 meters, and adjacent to producing oil field LD 27-2. In order to reduce production cost, a joint development plan was carried out for both LD32-2 and LD27-2 fields.

Global container shipping and logistics group Neptune Orient Lines (NOL) reported a net profit of $100m for the second quarter of 2010. That was up from a net loss of $146 million in the second quarter of 2009. The Group’s Core EBIT (Earnings Before Interest and Taxes) for the quarter was $114 million compared to a Core EBIT loss of $131 million in the same quarter a year ago. Second quarter 2010 revenue increased 53% to $2.1 billion. “Continued strong container shipping volumes and improving freight rates have helped return us to profitability,” said Group President and CEO Ronald D. Widdows. NOL reported Core EBIT (Earnings Before Interest and Taxes) of $40 million for the first half of 2010, compared to a $353 million Core EBIT loss a year ago.

Global shipping leader APL announced the launch of a new weekly direct container shipping service linking Vietnam and the West Coast of North America. Previously, Vietnam’s exporters have had to rely on small feeder vessels to connect with larger ships to gain access to the world’s major consuming markets. The first departure of the APL-operated service on 4 June will directly link Vietnam’s exporters to the Transpacific routes, which are among the world’s largest and most dynamic trade lanes. “This is the beginning of a new era for trade with Vietnam and marks its increased importance as a manufacturing and export centre,” said Eng Aik Meng, President of APL. In early 2007, APL co-authored research examining Vietnam’s transportation and logistics environment.

On Feb. 6, global container shipping and logistics group, Neptune Orient Lines (NOL), reported a net profit for 2008 of $83m, 84% lower than 2007. The Group’s 2008 Core EBIT of $213m was down 64% from the prior year. For the fourth quarter of 2008 (4Q08), the company reported a net loss of $149m and a loss at Core EBIT level of $45m. The fourth quarter result includes $72m of restructuring charges. Revenue for 2008 was up 14% year-on-year to a record $9.29b. Announcing the results, NOL Group Chairman, Mr. Cheng Wai Keung, said “2008 was a year of dramatic change, in which our Group faced some of the most turbulent conditions in its long history. NOL Group President and Chief Executive Officer, Mr.

Neptune Orient Lines Limited announced the appointment of Eng Aik Meng as President of its APL container shipping unit. Mr. Eng will shortly rejoin NOL from Singapore-headquartered diversified shipping and industrial supply chain company IMC Corp Group, where he is currently Deputy Chief Executive Officer and, concurrently, Managing Director of its Aurora Tankers business. Previously, from 1993 to June 2007, Mr. Eng served with NOL in a variety of roles. He was Senior Vice President of APL’s Intra-Asia business from 2002 to 2007.